modhelius

Relative Strength

Relative strength is a ratio between two assets, most often a stock and a market average (index). This implementation uses the method described here and the second method described here to calculate its value: "To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular index over the same time period". This indicator oscillates around zero. If the value is greater than zero, the investment has been relatively strong during the selected period; if the value is less than zero, the investment has been relatively weak. The period and the comparative symbol can be set in the settings for the indicator (the defaults are 50 and SPX ), there you can also find an option to turn on a moving average.
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評論

Hello Modhelius, Can you code it in such a way as to chart the scripts or indices we compare in an overlay manner for more ease in comparison? Thanks in advance...
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I would like to know if we notice a DOW Theory type formation (Higher Bottom Higher Top) or a falling trendline violation on the RS line can this stock or investment be considered? OR it is also required to be above the Zero line to invest.
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Is there a NDX version ?
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Is it possible to export the live data from this indicator to excel?
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